Is raising the minimum wage the right approach

[Die_empty]

Raising the minimum wage is one of the factors that perpetuates the inflationary spiral, but if the minimum wage is raised by less than the inflation rate, can we really say that the minimum wage has been increased?

I believe raising the minimum wage is the right thing to do, but only if the increase matches the inflation rate or is slightly higher. In other words, I support a real increase because, first and foremost, I don’t believe that workers’ wages are the cause of inflation or the economic crisis. Labor costs are often the smallest item on the list of total expenditures...

First, we need to know the cause of Seattle's economic crisis. Some businesses are closing because of high taxes. People are also moving out of Seattle because of the high cost of living. Raising the minimum wage would complicate things, since it would also increase the cost of goods and services.

Reducing taxes and encouraging business by offering grants and other incentives might be better than increasing the minimum wage.

I agree with this comment on X about the situation.

Seattle will turn into a ghost town within the next five years. Not one person can logically think through the idea of raising minimum wage while businesses are closing down and not enough people are coming in as customers to sustain this model. I’m wondering if they just have a bunch of fifth graders running the government at this point.

[Barikui1]

I personally don't think that increasing the minimum wage is the best thing to do, because it's like a go ahead to inflation, because since the minimum wage is toppled, most of these firms will increase their service price or the cost of their products, which will later boomerang to the minimum wage that was just increased, and in no distance time, that minimum wage that was toppled, wouldn't be enough to afford all your basic needs again. So I think that tackling the main cause of the inflation remains the best thing to do, because if the inflation gets out of hand like it's in my country, everyone, including the rich is going to feel the effects of it in no distance time.

[Nheer]

I personally don't think that increasing the minimum wage is the best thing to do, because it's like a go ahead to inflation, because since the minimum wage is toppled, most of these firms will increase their service price or the cost of their products, which will later boomerang to the minimum wage that was just increased, and in no distance time, that minimum wage that was toppled, wouldn't be enough to afford all your basic needs again. So I think that tackling the main cause of the inflation remains the best thing to do, because if the inflation gets out of hand like it's in my country, everyone, including the rich is going to feel the effects of it in no distance time.

You have a point, increasing the minimum wage is not always the best thing to do and mostly it end up resulting to inflation. It is not always about how much a person earn but what that amount can do or buy.  Low minimum wage is not always bad if the amount can cover basic needs. The minimum wage can work just as you said, it can push businesses and firms to inturn increase the price of goods and services so increasing the minimum wage is not the best ideal solution instead the focus should be on resolving the main cause of inflation in the first place else increasing the minimum wage will have no impact at all and workers will still find themselves back to the where they left.

[bakasabo]

I personally don't think that increasing the minimum wage is the best thing to do, because it's like a go ahead to inflation, because since the minimum wage is toppled, most of these firms will increase their service price or the cost of their products, which will later boomerang to the minimum wage that was just increased, and in no distance time, that minimum wage that was toppled, wouldn't be enough to afford all your basic needs again. So I think that tackling the main cause of the inflation remains the best thing to do, because if the inflation gets out of hand like it's in my country, everyone, including the rich is going to feel the effects of it in no distance time.

I dont think that minimum wage increase is a right approach either. Lets get to the very beginning of financial chain. Who are going to pay that difference between current minimum wage and possibly increased minimum wage? Government from own pocket? Employer will have to do that, buy paying increased gross salary and taxes. Where employer is going to take that money? From own pocket? Again answer is no. That difference will be in increased goods price. In the finals, there will be no advantage from raise of minimum wage, because prices will also raise.

[TheUltraElite]

Low interest loans are already existing in many stats of many countries, often due to government pressure on banks, led by political parties. Increasing the minimum wage means you will have to pay more taxes to recover that amount for the government. This leads to things becoming expensive and this is a vicious cycle.

Prices of common goods will rise again that minimum wage will no longer be able to sustain that price and again the person will not be able to afford necessities.

I dont any solution to this by raising wages but rather if inflation could be tackled that would be a better approach.

[Obim34]

But I don't completely concur to this strategy, the problem will be invincible if this is the approach they choose to follow, a big factor in any business closing up is the poor financial state to keep the business running increasing the minimum way that they businesses who are fighting financial battles can't meet won't solve the problem.

Raising the minimum wage is a short-term correction. I searched online and confirmed that they are facing serious inflation, increasing the minimum wage will only fix things for a while, it won't solve the root cause. Another typical example is Nigeria as a case study, the minimum wage went from 30K to 70K, yet people are getting poorer, businesses are shutting down, and there is very limited room for growth.

The ongoing challenge is something the government can fix without giving loans and increasing wages.

[Promocodeudo]

I personally don't think that increasing the minimum wage is the best thing to do, because it's like a go ahead to inflation, because since the minimum wage is toppled, most of these firms will increase their service price or the cost of their products, which will later boomerang to the minimum wage that was just increased, and in no distance time, that minimum wage that was toppled, wouldn't be enough to afford all your basic needs again. So I think that tackling the main cause of the inflation remains the best thing to do, because if the inflation gets out of hand like it's in my country, everyone, including the rich is going to feel the effects of it in no distance time.

This is the fact, but do you think the government will tackle the cause of inflation immediately, in as much as I agree with what you said about getting to the root cause of the inflation and bringing it to stand still, I think immediate measures should be taken to caution the effect of inflation people first, and I think that the increase of minimum wage could be one of those measures, the government are good at delays, and we know how inflation can be, government are not always proactive, I don't want to talk about my country here cause it is the headquarters of government negligence, in some countries the government knows what to do as fast as they can, but in those countries where it takes time to battle economic issues, something has to be done first, as the government continue to look for lasting solution thats my take.

[sunsilk]

I personally don't think that increasing the minimum wage is the best thing to do, because it's like a go ahead to inflation, because since the minimum wage is toppled, most of these firms will increase their service price or the cost of their products, which will later boomerang to the minimum wage that was just increased, and in no distance time, that minimum wage that was toppled, wouldn't be enough to afford all your basic needs again. So I think that tackling the main cause of the inflation remains the best thing to do, because if the inflation gets out of hand like it's in my country, everyone, including the rich is going to feel the effects of it in no distance time.

That is the caveat of it, whenever the salaries are increasing then services and products needed some raise too.

But I guess that there's no other way in stopping the inflation and that's why one way of helping the citizens, by raising the minimum wage.

We see people do a lot of jobs just to make ends meet. If it's not for the inflation and lower salary/income, no one will do that so raising the minimum helps in this economy.

[BlackHatCoiner]

Imagine living in 2026 and thinking that raising the minimum wage is the right approach.

Minimum wage laws don't work for the simple reason that they make labor unaffordable to business owners. It makes it more difficult for small businesses to survive (as they have to pay a higher minimum wage), and the ultimate result is fewer businesses and more businesses that rise their prices. (Which are paid by the minimum wagers, btw.)

[DiMarxist]

Minimum wage increment is a reactionary measure that only tries to calm down nerves. While still prosponeing  the real solution to the problem of concern. We see this play out every now and then especially in struggling economies, and anytime such economic issues rise up the first thing that workers especially civil servant's will agitate for is increment of salary.

Yes this type of agitations is good as it can help relief workers of the immidiate economic hardship that, may come but on the long run its a bad idea. The reason is that economic issues should have economic solutions not increment of salary, if the economy is good and with a good exchange. Then no worker will be thinking about increase in salary.

[Xackie]

But I don't completely concur to this strategy, the problem will be invincible if this is the approach they choose to follow, a big factor in any business closing up is the poor financial state to keep the business running increasing the minimum way that they businesses who are fighting financial battles can't meet won't solve the problem.

Raising the minimum wage is a short-term correction. I searched online and confirmed that they are facing serious inflation, increasing the minimum wage will only fix things for a while, it won't solve the root cause. Another typical example is Nigeria as a case study, the minimum wage went from 30K to 70K, yet people are getting poorer, businesses are shutting down, and there is very limited room for growth.

The ongoing challenge is something the government can fix without giving loans and increasing wages.

Our economy is in a bad shape. I think what the government need to focus on is try to create more jobs, support local industries and small scale business owners, boost local production, reduce government spending and divert most of the countries revenue into build more infrastructures that can make the economy to stabilize. If government was to increase the minimum again, people would still complain that its not enough for them to survive.  Increasing the minimum wage without focusing on these issues will only bring short term relief like you said. A stable economy can give a worker strong purchasing power. But right now the government are only concerned about the upcoming election, they've completely abandoned us. It's so sad that people would still rally and support them.